RAPAPORT... (Updated May 12) Gold continued trading in record territory today after reaching a new record closing price of $1,231.40 an ounce yesterday in New York. Gold rose to $1,249.60 an ounce at mid-day in New York, up 35 percent from one year ago. 
 
"Gold continues to benefit from safe-haven buying interest amid the European Union's sovereign debt crisis and on building bullish technical momentum," analysts at Kitco.com noted.

The group expects "higher volatility" for both the upside and on the downside.